$11,000,000 Multi-Location Insurance Agency for sale

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Business Description

Asking $4,999,999 - Negotiable

Founded in 2005 as a scratch agency, this business has grown to a large full service insurance agency with over $11,000,000 in annual premium. Multiple appointments with P&C carriers as well as Life, Health and Employee Benefits carriers. Gross revenues are $1,333,000 with EBITDA at appx $850,000. That's 3.75X Commissions or 6X EBITDA. Include the buyers new Debt Service and it's $150,000 positive on day one! Commissions Breakdown: Allstate Book - $700,000, TX Windstorm - $576,000, All other markets - $57,000. Owned building: Complete certified metal re-roof in 2016, Hardi-Plank Siding and Hurricane Windows in 2019. Solid Retention rates of 89% for Auto and 91.59% on Homeowners. Total P&C Retention is 88.04% Low Loss Ratio at 32.96%.

Detailed Information

Location:

Nueces County, TX

Inventory:

Included in asking price

Real Estate:

Owned

Included in asking price

Building SF:

1,100

Employees:

9

Furniture, Fixtures, & Equipment (FF&E):

Included in asking price

Facilities:

Two locations are leased and the third is owned.

Competition:

Three locations throughout Corpus Christi. All locations are located in high impression/traffic areas.

Growth & Expansion:

Corpus Christi, TX is located on the coast of the Gulf of Mexico. Mortgage Lenders require Windstorm/Hail insurance as a requirement of a mortgage, as well as fire insurance. If the property is in a High-Risk Flood Zone FEMA Flood insurance is also required. Texas Windstorm Insurance Association(TWIA) is the state Risk Association that writes Windstorm/Hail insurance.

Support & Training:

Sellers are willing to train buyers on agency management system and office equipment.

Business Listed By:
Donald Morrison

Listing Statistics

Demographic Information

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